Why I continue to push for a more agressive buy back
Corning had a reasonable share count until 2000. It started to increase because management bought into the 2000 tech bubble and I assume split when we were selling for $100 +.
The stock crashed after the bubble as many did but a reverse split was never performed. Take a look at the share count:
2001 - 947M
2002 - 1.18Bill
2003 - 1.196B
2005 - 1.5 B
2013 - 1.47B
After the crash it would have been prudent to do a reverse split as many companies did during early 2000's
When you have a real cheap stock with lots of shares it gets manipulated by all the traders and hedge funds. Another 1.5 Billion will only get us back another 100 million shares. IMO, that is not enough unless they really increase revenues substantially, which they have not been able to accomplish.
Technically, a reverse split will not change our market value. IMO, it WILL change the trading dynamics of the company.
you are right about the tech crash era. Bad times for Cornins -- but they are behind us now. AS for the share count, the pie has been divided amongst us shareholders. so regardless of the share count, we have our pieces and that is that -- so long as they dont issue more -- which is nowhere on the horizon. A reverse split does not change your equity position, merely the price. I like the idea of just sticking to a game plan of methodically and systematically buying stock and taking it off the market. That does actually build your equity postion in the company. And you are also right about growing revenues === that has to happen to grow the business